Saturday, November 01, 2008
Energy: Stocks in focus for Monday
Among the companies whose shares are expected to see active trade in
Monday's session are MasterCard, Anadarko and Hartford.
Friday, October 31, 2008
Evening in Bowery, Chinatown
Tech Daily: Chip stocks power tech sector; Sun, EA sell heavy on reports
Tech Stocks: Chip stocks power tech sector; Sun, EA sell heavy on reports
Technology stocks close with mostly strong gains, led by a sharp
upswing from the semiconductor equipment sector that is partially
offset by sharp sell-offs at firms such as Sun Microsystems and
Electronic Arts.
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EA shares fall as video-game maker cuts earnings outlook
Electronic Arts' shares plunge to their lowest level in seven years
after the video-game publisher scales back its earnings forecast for
the fiscalyear and outlines plans to lay off workers in an effort to
cut costs.
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Sun Micro shares fall as Wall Street sees cloudy outlook
Shares of Sun Microsystems slid on Friday after the high-tech giant
posted a large quarterly loss and said it continued to see weakness
across several markets.
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McAfee shares surge on results, outlook
Shares of McAfee Inc. jump more than 16%, one day after the security
software company posts third-quarter results that beat estimates and
issues better-than-expected guidance for the current period.
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London Markets: British shares extend winning streak as miners climb
London's FTSE 100 closes firmly higher for the market's
fourth-straight winning session, as a month of turmoil ends with the
biggest weekly gain in more than 20 years.
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Telecom Stocks: Smaller telecoms lead as sector gains
Telecommunications stocks mostly rose in Monday
trades, led by smaller companies such as Windstream Corp. and Ciena Corp.
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Europe Markets: Europe shares extend win streak to four; BT, L'Oreal warn
European shares closed higher Friday extending this week's winning
streak to four, although the move couldn't save the Stoxx 600 from a
dire monthly. performance.
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BT shares sink after group warns on second-quarter profit
Shares of BT Group Plc fell 19% Friday after the U.K.'s largest
telecommunications company warned that second-quarter profit would miss
expectations and lowered its outlook for the year.
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Google, Yahoo may walk from ad deal - WSJ
Google Inc. and Yahoo Inc. may walk away from their proposed Internet search
advertising partnership as soon as next week, according to a published report.
Markets Friday, 10/31/2008
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| Dow : 9325.01 up 144.32 | S & P : 968.75 up 14.66 |
| NASDAQ: 1720.95 up 22.43 | Bond (10Y): 3.96%, 100.34
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MARKETS:
Strong end to a brutal month
Investors muster gains at the end of one of the worst months in Wall
Street history. Good news: Stocks rally this week.
October set a slew of trading records, mostly bad
October set a slew of trading records, mostly bad
U.S. STOCKS FINISH WITH SOLID WEEKLY GAINS, BUT SLIDE ON MONTH
U.S. stocks advance for a second day to tally solid weekly gains but
post the worst month in decades, as investors bypass generally bleak
economic data to focus on improvement in the troubled credit markets.
NUMBERS IN OBAMA'S FAVOR GOING INTO FINAL WEEKEND
Going into the final weekend of 2008's long, arduous campaign, it
appears that Democrat Sen. Barack Obama will beat his Republican
opponent Sen. John McCain by as much as a 2-to-1 margin in electoral
votes.
THE FED: BERNANKE TURNS OVER 'ALTERNATIVE FORMS' FOR FANNIE, FREDDIE
The Federal Reserve chairman launches public debate over what the
government should do with Fannie Mae and Freddie Mac once the
financial-market crisis is over
.
ECONOMIC REPORT: BIGGEST DROP IN CONSUMER SPENDING IN 4 YEARS IN SEPT.
Reluctance on the part of consumers to shop for big-ticket items like
cars led U.S. consumer spending in September to its biggest drop in
over four years.
Stocks treated to an up week, with the Dow 157 points higher..
Stocks treated to an up week, with the Dow 157 points higher at the
day's close, ending a brutal month on Wall Street.
Energy: Five oil majors ring up $45 billion in profit, setting records
Five oil majors ring up $45 billion in profit, setting records
The five Western oil majors ring up a combined $45 billion in
third-quarter profits, heading into a recession with a bigger cash
cushion than most industries, but still facing uncertainty and fears
of leaner times ahead.
Home-value declines crimp consumers more...
Home-value declines crimp consumers more than portfolio losses
Consumers react more to changes in their home values than changes in
their investment portfolios, according to a recent study.
In fact, real estate economists at UCLA and the University of Southern
California found that a 10% decline in housing wealth from the 2005
highs would result in a $105 billion, or 1.2%, drop in personal
consumption expenditures.That 10% decline in home values translates to
roughly a 1 percentage-point
reduction in real GDP growth, researchers said.
Crude finishes October down 32.6%, worst monthly drop on record
10/31/2008 3:00:30 PM EDT
Dow industrials up 200 points
Dow industrials up 200 points
10/31/2008 1:33:49 PM EDT
Stocks shed losses to tilt higher, with financials pacing gains
Stocks shed losses to tilt higher, with financials pacing gains
U.S. stocks on Friday wavered mainly lower, on track for their worst
month in 28 years, as generally bleak economic data showed consumers
spending less and Electronic Arts Inc. joining the list of companies
cutting forecasts and employees.
BANK OF JAPAN CUTS RATES TO 0.3% IN SPLIT DECISION
The Bank of Japan's policy board decides to cut its base lending rate
to 0.3% from 0.5%, abandoning its goal of normalizing interest rates
as it injects stimulus into the No. 2 global economy in an effort to
head off recession.
ECONOMIC REPORT: BIGGEST DROP IN CONSUMER SPENDING IN 4 YEARS IN SEPT.
Reluctance on the part of consumers to shop for big-ticket items like
cars led U.S. consumer spending in September to its biggest drop in
over four years.
BARCLAYS TO RAISE UP TO $11.9 BILLION
Barclays strikes a deal to raise up to 7.3 billion pounds ($11.9
billion) in fresh capital as the U.K. lender signals its preference
for cash from Middle Eastern royal families to the British government.
FUTURES MOVERS: OIL FALLS ON DEMAND CONCERNS, SET FOR BIGGEST MONTHLY LOSS EVER
Crude-oil futures headed lower for a second day
Friday, poised to suffer the biggest monthly loss ever in New York as
weak U.S.economic data fed concerns that a slowdown in global economic
growth will continue to reduce oil demand.
Stocks open lower to cap one of Wall Street's worst months ever. Dow, S&P 500 and Nasdaq all drop after opening bell.
Stocks open lower to cap one of Wall Street's worst months ever. Dow,
S&P 500 and Nasdaq all drop after opening bell.
Government reports that consumer spending fell in September - another sign of weakness in the economy.
Government reports that consumer spending fell in September - another
sign of weakness in the economy.
Thursday, October 30, 2008
Markets Thursday, 10/30/2008
| Dow : 9180.69 up 189.73 | S & P : 954.09 up 24.00 |
| NASDAQ: 1698.52 up 41.31 | Bond (10Y): 3.97%, 100.22
MARKETS:
Stocks get a boost
Wall Street advances after Fed, other central banks cut rates, lending
improves and GDP shrinks at a slower-than-expected pace.
Stocks resume GDP-inspired rally to close solidly ahead
Stocks resume GDP-inspired rally to close solidly ahead
U.S. stocks rally, pushing the Dow Jones Industrial Average back above
the 9,000 level, after the government says the economy shrank less
than forecast in the third quarter.
TREASURY MAY BORROW $1 TRILLION TO COVER BAILOUTS, DEALERS SAY
Major bond dealers say the United States may have to issue more than
$1 trillion in debt during its current fiscal year, by far the most
ever, to fund massive programs designed to bail out the banking
system.
DISMAL SALES RESULTS ON TAP AS GM/CHRYSLER DEAL LOOKS LIKELY
Automakers are expected to hand in yet another set of sickly U.S. car
sales numbers next week in what could mark the last time the industry
reports results before Detroit's Big Three becomes the Big Two.
AMERICAN EXPRESS TO CUT 10% OF WORK FORCE, OR 7,000 JOBS
Highlighting that even some of the most creditworthy and wealthiest
Americans are having trouble paying their bills, American Express says
it's cutting 10% of its staff, or about 7,000 people, in an effort to
save money.
Banks over the last week borrowed a record $112 billion a day on average under the Fed's emergency lending program.
Banks over the last week borrowed a record $112 billion a day on
average under the Fed's emergency lending program.
Markets rally late in day, with Dow up 193 points at the close, as investors cheer interest-rate cuts and easing of credit markets.
Markets rally late in day, with Dow up 193 points at the close, as
investors cheer interest-rate cuts and easing of credit markets.
Stocks climb after economy shrinks less than forecast
Stocks climb after economy shrinks less than forecast
U.S. stocks climb, but remain off session highs, after the government reports
the economy shrank less than forecast and on hopes interest-rate cuts
by central banks around the world will curb the global economic
slowdown.
ECONOMIC REPORT: GDP FALLS 0.3% IN THIRD QUARTER ON DIVE IN SPENDING
The U.S. economy contracted at a 0.3% annualized rate in the third
quarter, as consumer spending declined at the fastest rate in 28
years, the Commerce Department estimates.
EXXON MOBIL'S PROFIT APPROACHES $15 BILLION, SETTING NEW RECORD
Exxon Mobil's third-quarter net income rises 58% to a new record of
nearly $15 billion, but the results are likely to mark a swan song for
groundbreaking profits tied to this past summer's triple-digit prices
for crude oil.
BORROWING COSTS EASE AFTER FED RATE CUT, LIQUIDITY MOVES
Credit-market conditions show further signs of improvement, responding
to the Federal Reserve's decision to slash a key U.S. interest rate to
1% along with central banks' moves to further flood money markets with
dollars.
MOTOROLA POSTS LOSS AND DELAYS SPINOFF OF HANDSET BIZ
Motorola Inc. on Thursday swung to a loss in the third quarter and
said it would delay the spin-off of its faltering wireless-phone
business beyond 2009.
In latest sign of easing credit, commercial paper market -a key tool in business lending - expanded for first time in seven weeks.
In latest sign of easing credit, commercial paper market -a key tool
in business lending - expanded for first time in seven weeks.
Hammered by the credit crisis, American Express says it will slash 7,000 jobs as part of a drastic cost cutting intiative.
Hammered by the credit crisis, American Express says it will slash
7,000 jobs as part of a drastic cost cutting intiative.
Breaking News: Economy shrank in Q3
WASHINGTON - Gross domestic product shrank at a 0.3% annual rate in
the third quarter, the worst showing since third quarter 2001, when
the nation was last in recession.
U.S. stock benchmarks tally 2% gains in opening minute of trading
U.S. stock benchmarks tally 2% gains in opening minute of trading
Wednesday, October 29, 2008
Markets Wednesday, 10/29/2008
| Dow : 8990.96 down 74.16 | S & P : 930.09 down 10.42 |
| NASDAQ: 1657.21 up 7.74 | Bond (10Y): 3.85%, 101.16 |
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MARKETS:
Stocks succumb to bleak Fed outlook
Wall Street erases most of the session's gains that followed the
Federal Reserve's interest-rate cut.
Dow jumps 250 points, after seesawing initially, following the Fed's announcement of a half-point rate cut.
Dow jumps 250 points, after seesawing initially, following the Fed's
announcement of a half-point rate cut.
Dow falls into negative territory, after being up most of the day, following Fed's announcement of half-point rate cut.
Dow falls into negative territory, after being up most of the day,
following Fed's announcement of half-point rate cut.
Fed expected to cut rates by half point
Fed expected to cut rates by half point
The Federal Reserve is expected to cut interest rates this afternoon,
making good on Chairman Ben Bernanke's pledge to do whatever it takes
to get the economy back in gear.
FUTURES MOVERS: CRUDE LEADS BROAD RALLY IN COMMODITY FUTURES
Crude-oil futures surge as much as 8%, leading a broad rally among
commodities, with prices for oil on track to post the largest daily
percentage gain since June.
ECONOMIC REPORT: ORDERS FOR DURABLES UP 0.8%, LIFTED BY AIRCRAFT
Strong demand for airplanes lifted orders for U.S.-made durable goods
to a 0.8% gain in September, the Commerce Department reports.
ASIA MARKETS: TOKYO SURGES 7.7%, BUT REGION ENDS OFF HIGHS
Most Asian markets advanced Wednesday after a massive overnight rally
on Wall Street on hopes the U.S. and Japanese central banks would
reduce interest rates to support their weakening economies. But the
indexes came off their highs in as investors chose to remain cautious
on weak corporate earnings reports.
Stocks edge lower in early trading as Wall Street bides it...
Stocks edge lower in early trading as Wall Street bides its time ahead
of an expected Fed rate cut later in the day.
General Motors says its global sales are down 11% in the fourth quarter...
General Motors says its global sales are down 11% in the fourth
quarter, faster than the year-to-date decline.
More companies may ax 401(k) match
More companies may end 401(k) match
More News
Most Asian markets extend gains after U.S. rally
Pakistan earthquake kills at least 150, leaves 15,000 homeless
Durable goods rose 0.8% in September, a surprise gain, the government said.
Durable goods rose 0.8% in September, a surprise gain, the government said.
Tuesday, October 28, 2008
Markets Tuesday, 10/28/2008
| Dow : 9065.12 up 889.35 | S & P : 940.51 up 91.59 |
| NASDAQ: 1649.47 up 143.57 | Bond (10Y): 3.77%, 101.78
MARKETS:
Dow's 2nd best day ever
The Dow jumps as much as 906 points as investors use 5-year lows as an
opportunity to get back into stocks.
U.S. consumer confidence plunges on financial crisis
U.S. consumer confidence plunges on financial crisis
Wounded by the financial crisis, U.S. consumer confidence plunges in
October, reaching an all-time low in the series' 41-year existence,
the Conference Board reports.
VW SHORTS SCRAMBLE FOR EXITS AS MARKET CAP SWELLS
Short sellers of Volkswagen scramble for the exits, briefly making the
European auto maker the world's largest company by market
capitalization and raising worries about the banks that sold Porsche
Automobil Holding the options to build its stake in the Beetle maker.
OUTSIDE THE BOX: HAVE INVESTORS PANICKED AND CAPITULATED?
Is it time to buy stock? Ever since mid-September, we have read that
the bottom is in because investors have "panicked" and "capitulated."
But market history. does not support this widespread view.
Breaking News: Dow soars more than 800 points
NEW YORK (AP) - The Dow Jones industrial average jumped more than 800
points Tuesday as bargain hunters, buying in anticipation of a Federal
Reserve rate cut, grabbed stocks that have been pounded lower in
recent sessions. All the major indexes were up at least 9%.
Dow soars 700 points, as late-afternoon rally heats up...
Dow soars 700 points, as late-afternoon rally heats up, after global
markets gain and investors hope Fed cuts rates Wednesday.
Dow leaps 600 points, as rally gathers steam late in day, after global markets gain and the Fed starts 2-day interest rate meeting.
Dow leaps 600 points, as rally gathers steam late in day, after global
markets gain and the Fed starts 2-day interest rate meeting.
Dow jumps 350 points, rebounding from...
Dow jumps 350 points, rebounding from a 5-year low, as global rally
cheers investors and Fed begins a 2-day meeting on rates.
Oil drops 49 cents to settle at $62.73, keeping levels at a 17-month low, as a report shows drop in gasoline use.
Oil drops 49 cents to settle at $62.73, keeping levels at a 17-month
low, as a report shows drop in gasoline use.
U.S. consumer confidence plunges on financial crisis
U.S. consumer confidence plunges on financial crisis
Wounded by the financial crisis, U.S. consumer confidence plunges in
October, reaching an all-time low in the series' 41-year existence,
the Conference Board
EUROPE MARKETS: BP, VOLKSWAGEN HELP EUROPE STOCKS CLAW BACK SOME LOSSES
European shares moved higher on Tuesday, paced by gains for oil giant
BP and automaker Volkswagen, as investors shopped for bargains after a
22% drop for stocks since the start of October.
Key measure of consumer confidence plunges to lowest level ever.
Key measure of consumer confidence plunges to lowest level ever.
Whirlpool announces 5,000 job cuts as it cuts 2008 earnings view
Whirlpool announces 5,000 job cuts as it cuts 2008 earnings view
10/28/2008 6:04:44 AM EDT
Stocks jump at the open, ,,,
Stocks jump at the open, piggybacking on surging global markets, as
investors bet on another Fed rate cut.
Monday, October 27, 2008
Markets Monday, 10/27/2008
Monday, 10/27/2008
| Dow : 8175.77 down 203.18 | S & P : 848.92 down 27.85
| NASDAQ: 1505.90 down 46.13 | Bond (10Y): 3.68%, 102.59
MARKETS:
Stocks slump after choppy session
Major gauges end a volatile session lower as investors weigh recession
 fears, debt relief, Verizon results and housing report.
Grand ST
Dow falls 210 points, after seesawing much of the session, as stocks crumble in late-day selloff and recession fears grip investors.
Dow falls 210 points, after seesawing much of the session, as stocks
crumble in late-day selloff and recession fears grip investors.
Oil prices settle lower, down 93 cents at $63.22, as recession fears continue to weigh on traders.
Subject: Oil prices settle lower, down 93 cents at $63.22, as
recession fears continue to weigh on traders.
Dow jumps 200 points, after being down more than 170 earlier, on start of Fed business ...
Dow jumps 200 points, after being down more than 170 earlier, on start
of Fed business lending program, strong housing report.
A library in NYC
Hang Seng crumbles 12.7% -- `nothing but pain'
HONG KONG -- Hong Kong stocks crumbled under a barrage
of selling Monday, with the benchmark Hang Seng Index plunging 12.7%
to its lowest finish in more than four years as investors who bought
shares on credit were forced to offload
them in a falling market.
The session also saw benchmark indexes in Mumbai, the Philippines,
andThailand slump 10% or more, although India's Sensex pared losses by
the end of the session on the back of better-than-expected earnings
from Icici Bank and short-covering by investors in the afternoon.
Stocks fall at the open as Wall Street reacts to the ongoing global economic concerns shattering world markets.
Stocks fall at the open as Wall Street reacts to the ongoing global
economic concerns shattering world markets.
New home sales surprisingly rose by 2.7% in September to an annual rate of 464,000, the government reports.
New home sales surprisingly rose by 2.7% in September to an annual
rate of 464,000, the government reports.
Regional banks KeyCorp., Fifth Third and Capital One announce total of $9.5 billion in federal funding under Treasury bailout plan.
Regional banks KeyCorp., Fifth Third and Capital One announce total of
$9.5 billion in federal funding under Treasury bailout plan.
